Switzerland’s trade surplus narrowed to 1.4 billion Swiss francs in September, the smallest since 2022.

(1) Switzerland's trade surplus in September 2026 narrowed to 1.4 billion CHF from a downwardly revised 5.4 billion CHF in August, marking the smallest surplus since November 2022. (2) Imports surged 24.9% month-on-month to 2.19 billion CHF, the highest level in over a year, mainly driven by a sharp 87.8% increase in purchases of chemical and pharmaceutical products. (3) Imports from Europe grew by 21.7%, while imports from North America and Asia increased by 28.6% and 2.4% respectively. (4) Meanwhile, exports rose 1.5% month-on-month to 2.33 billion CHF, supported by increased shipments of chemical and pharmaceutical products (+0.5%) and watches (+1.6%). (5) Exports to Asia rose 14.8% and to North America by 11.2%, whereas exports to Europe fell by 4.3%. (6) In the third quarter of 2026, Switzerland's trade surplus increased to 14 billion CHF from 13.2 billion CHF in the previous quarter.